Kicking off at noon, the free park party will include a local artisans market, skate clinic, pirate show, jumping castle, circus workshops, tug-of-war, a busking competition and aerial trapeze displays.

Federal resident Mel Gregory said she hoped people from all over the North Coast could enjoy the party while also supporting the community's cause.

"The little church has had Zumba classes and choir groups in it so it's already serving as a community space. If a developer bought it that would be a great loss," she said.

Ms Gregory said she believed the Anglican Diocese was willing to sell the church to the community at a reduced rate.

"We need a lot of money because it's about $200,000," she said.

"In our first public meeting the community pledged $60,000 and the feeling was that collectively we could achieve that. But we don't want to hold 1000 sausage sizzles just to try to make the money so we're very grateful for the support of Tex and the other artists."

The Federal Park Party will also include the Sculpture By The Tree art installation walk.

About 30 sculptors have entered the competition to win $2000 and the right to have their sculpture displayed in the park.

"The Federal Park makes such a great backdrop so the sculptures just look fantastic," Ms Gregory said. "This one day of the year we really celebrate our park and our community."

Tickets to the after-party are available for $25 at the door from 7pm. Children will get in free.